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Fiscal Package 2019, promises held in business support

Fiscal Package 2019, promises held in business support

The changes the government has taken in the fiscal package 2019, present a number of changes and promises held in business support and for the first time VAT hike for inputs, agricultural machinery and veterinary services.

The Socialist MP, Ervin Bushati, said today in the Assembly during the discussion of the laws that associate the new fiscal package that in the draft law “On some additions and amendments to the law no.92 / 2014,” On value added tax in the Republic of Albania ” , changed “the exclusion of VAT for the agricultural sector deepens.

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“In order to ease investment costs and continue the support of the agricultural sector, for the first time we raise the VAT on agricultural inputs. This is a demand from all farmers and actors involved in agriculture. Of the 20% of VAT for agricultural inputs it is made 0. Also, 0, VAT is not only for imported machinery but also for agricultural machinery traded internally and thirdly for supply of veterinary services, a demand for recently presented by the agribusiness community, is excluded from VAT and is 0 “, Bushati said, while stressed that the compensation rate for agricultural producers by 20% is reduced to 6%.

New developments aim at promoting and facilitating investments in the digitalisation of audiovisual media (televisions), as it has been proposed to reduce VAT from 20% to 6% for the provision of audiovisual media services

Also in this law, he continued, there is also a change in the supply and sales of books. VAT from 20% falls to 6%, and for public transport buses VAT falls to 6% by 2021 and from January 1, 2022 goes 10%.

The Assembly approved today with 75 votes in favor, the above mentioned changes that are part of the law on value added tax, fiscal package 2019. 

News Source: ATA

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